The orders are expected to be executed over a period of approximately 12 months.

The contract, awarded by domestic entities, involves the supply of premium building materials to ongoing residential and commercial projects by the two developers.

Nitco confirmed that neither its promoters nor promoter group or group companies have any interest in the awarding entities. The transaction is not classified as a related party transaction and is being executed on an arm’s-length basis.

This development highlights continued demand in the construction materials segment amid active real estate projects across India.

The company reported consolidated net profit of Rs 47.46 crore in Q1 FY26 as against net loss of Rs 43.52 crore in Q1 FY25. Revenue from operations surged 114.8% year on year to Rs 149.66 crore in Q1 FY26.

Shares of Nitco rose 0.65% to settle at Rs 115.70 on the BSE.